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Friday, November 25th, 2016

The Blockchain Energy System Is Going To Be Great For Consumers

Author:     Ben Schiller
Source:     FastCo.Works
Publication Date:     11.18.16 10:40 AM
 Link: The Blockchain Energy System Is Going To Be Great For Consumers
Stephan:   Here is some more good news about the transition to non-carbon energy, the development of Blockchain local networks. I can easily see how this would work on my island and if you think about for a moment you can probably see how some variation might work where you live. The technology is moving very quickly in spite of the efforts by multinational corporations and their political vassals to block its development. and that includes, as this report describes, how  the bookkeeping might be done. Worldwide 14 years into the future, in 2030, I am not sure what will be going on in the United States, because the incoming administration is a coven of petroleum committed climate change deniers, but the rest of the world will be well through the transition.
A couple of dozen solar panels sit atop a picnic shelter at a neighborhood park in Seattle. Credit: Seattle CIty Light

A couple of dozen solar panels sit atop a picnic shelter at a neighborhood park in Seattle.
Credit: Seattle CIty Light

Traditionally, energy systems flowed in one direction: from big power producers to consumers. Now, with more people getting rooftop solar panels, they’re increasingly two-way: homes send excess power back to utilities, reducing their household bills. In the future, we may see a third change: people trading power not only with utilities, but also with each other.

Several startups are now working on the trading aspect, including Power Ledger in Western Australia. It’s launched trials based on blockchain technology, which offers an inviolable internet-based record of transactions as they take place. Blockchain came to prominence with the bitcoin virtual currency, but increasingly it’s being used to track and authenticate all kinds of asset trading, from stocks and bonds to electrons.

“The energy system used to be linear: energy flowed from distant generators to consumers via long networks […]

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1 Comment

  1. Mark R on Friday, November 25, 2016 at 3:56 am

    Spectacular! Exciting news. Decentralization is the way fossil fuel industry will get bypassed. Better to obsolete polluting technologies than fight them with government regulation. Centralization has been done and it has failed. Decentralizing is the future. Revolution thru evolution.

    Thanks Stephan for sharing this inspiring topic!